Forex Trading Ideas & My Best Forex Robots

USDCAD after the strong up movement reached resistance level appointed by two highs created in July and August. We are expecting correction of last movement to the last local support near 1.2600 so we have opened short with 2 points of risk reward ratio.

DAX stopped just before round level 13000 and stay in near 100 pts range. We are trying to decipher if supply or demand is in advantage. DAX since the end of august made a big increase without correction so we are expecting break out downwards. But looking at the daily bars we can see that below 12950 somebody buys (long lower candle shadows). We stay out of the market now till we get any signal.

USDJPY break out down of range where price stayed since end of semptember. As we told earlier, this should be correction of previous growth and price should go to support zone at 110.60-111.00. Aggresive traders could sell with a small stop loss. Conservative trades could wait for a pullback to the broken zone.

USDJPY is growing from the begining of september without larger correction. In the last days growth rate has decreased and USDJPY stay in local range 112.20-113.20. Today price break out up but it fast back to the range and now price drawing pinbar. All looks like price finally will breakout down, will make correction to support zone 110.70-111.00 and than will go to the resistance level at 114.30.